American Express, Interpublic, MGM Mirage: U.S. Equity Preview
Share | Email | Print | A A A May 18 (Bloomberg) -- The following companies may have unusual price changes in U.S. markets tomorrow. Stock symbols are in parentheses after company names, and prices are as of 5:50 p.m. in New York, unless stated otherwise.
Standard & Poor’s 500 Index futures expiring in June added 0.3 points to 907.40.
American Express Co. (AXP:US) lost 0.4 percent to $26.02. The largest U.S. credit-card company by purchases will cut about 6 percent of its workforce as cardholders squeezed by rising unemployment fail to pay debts.
Interpublic Group of Cos. (IPG:US) added 2.3 percent to $5.38. The second-largest U.S. advertising company said in a regulatory filing it amended a credit pact, preserving its ability to tap the agreement if General Motors Corp. or any of its affiliates file for bankruptcy.
Invesco Ltd. (IVZ:US) lost 6.6 percent to $14.55. The manager of the Aim and PowerShares funds plans to sell $400 million of additional common shares. The sale of additional shares may dilute the value of those held by investors.
MGM Mirage (MGM:US) gained 2.4 percent to $8.95. The largest operator of casinos on the Las Vegas Strip amended its loan agreement with lenders led by Bank of America Corp. to waive covenant defaults and allow it to pay down debt, according to a filing with the Securities and Exchange Commission.
MSCI Inc. (MXB:US) fell 10 percent to $21.03. Morgan Stanley, the sixth-biggest U.S. bank by assets, plans to sell its remaining 27.7 million shares in the index provider in a public offering that may garner about $650 million.
To contact the reporter on this story: Eric Martin in New York at emartin21@bloomberg.net.
Last Updated: May 18, 2009 18:24 EDT
